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The talks come as auto manufacturers from Stuttgart to Seoul have been angered by Biden's $430 billion "Inflation Reduction Act", enacted in August and aimed at rolling back climate change and making Washington a world leader in the EV market.

U.S., EU Launch Formal Group To Discuss Conflict Over EV Subsidies

Dec 31, 2022 05:24 PM

1 mins read

The talks come as auto manufacturers from Stuttgart to Seoul have been angered by Biden's $430 billion "Inflation Reduction Act", enacted in August and aimed at rolling back climate change and making Washington a world leader in the EV market.

Oil Slumps By Over $2/bbl, Dogged By Recession Fears

By Reuters

Dec 31, 2022 05:24 PM

Oil prices briefly erased some losses after officials said the U.S. Energy Department will repurchase 3 million barrels of domestic crude oil for the Strategic Petroleum Reserve.

Electric Vehicles Confront The Leap To The Mass Market

By Reuters

Dec 31, 2022 05:24 PM

The automobile industry is pouring more than $1 trillion into a revolutionary shift from combustion engines to electric vehicles guided by software.

Taiwan To Fine Foxconn For Unauthorised China Investment

By Reuters

Dec 31, 2022 05:23 PM

Taiwan has turned a wary eye on China's ambition to boost its semiconductor industry and is tightening legislation to prevent what it says is China stealing its chip technology.

STMicro, Soitec Deepen Cooperation Over Fast-Growing Semiconductor Material

By Reuters

Dec 31, 2022 05:23 PM

Soitec and STMicroelectronics are deepening their cooperation over the manufacturing of a key and fast-growing material used in the electric car industry.

U.S. Urges Caution On Low-Quoted Russian Oil Prices As EU Debates Price Cap

By Reuters

Dec 31, 2022 05:23 PM

The Biden administration broke its silence on European Union deliberations over a $65-70 per barrel Russian oil price cap, warning far-lower prices cited for some Russian Urals crude shipments should be approached with caution.